I have no way of substantiating this, but it seems to me that there has been a shift in mindset, at least where I live, from the investment being that you slowl

I have no way of substantiating this, but it seems to me that there has been a shift in mindset, at least where I live, from the investment being that you slowly pay it off and eventually own your home, to speculation that the housing market will go up. A coworker was particularly happy that his apartment had appreciated a lot in value since he bought it. Now, what he doesn't take into account is that the rest of the market has appreciated just as much. It isn't that his apartment has magically become more valuable, it's the entire market that has moved. The only way to realise that profit (without renting) would be to move somewhere where apartments are less expensive for the same standard, which he is not going to do.